Coalition Demands Transparency, Accountability In Fuel Pricing, Others

The Coalition for Change in Nigeria (CCN) has said there was a need for transparency and accountability in the management of Nigeria’s natural resources especially in fuel pricing, refinery expenditures and the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project.

Addressing newsmen on Wednesday in Abuja, CCN Convener, Dr Emmanuel Agabi said Nigerians deserve to understand the reasons for the sustained high fuel prices despite the deregulation of the nation’s petroleum sector.

Rejecting any attempt to monopolize refining operations, Agabi who advocated for diversifying refining capacities through modular refineries, maintained that it would help in creating jobs, reduce fuel costs, and provide a stable energy supply.

According to him, there was a need for a national strategy to prioritize modular refineries which were faster to build, cheaper to operate, and more adaptable to local demands.

He said: “We are focusing on three critical areas that demand the urgent attention of the Nigerian people and the government: fuel pricing and its impact on Nigerians, the expenditures committed to our local refineries, and the full disclosure of agreements surrounding the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project,” he said.

“It is apparent to all Nigerians that the issue of fuel pricing has become a matter of national urgency. The removal of the fuel subsidy, a decision that the majority of Nigerians supported in principle has resulted in increased fuel prices.

“While deregulation is an economic policy supported by many, including the CCN, the way it has been managed leaves much to be desired. We understand that removing the fuel subsidy is necessary for long-term growth, and has helped us save a lot.

“We are here to demand an immediate review and explanation of the factors driving fuel prices upwards. Where is the transparency? Why are we still burdened with high fuel prices when deregulation is intended to bring stability and fairness to the market?

“However, we must go beyond simply asking for answers on pricing. We call on the Federal Government to immediately initiate a public inquiry into the expenditures committed to reviving our local refineries, particularly the Port Harcourt Refinery.

“For years, Nigerians have been told that billions of naira have been poured into revamping these refineries. Yet, to date, none of them are operating at full capacity.

Nigerians deserve to know where our money has gone. We need to know the figures, and how they are being spent. We cannot stand idly by while funds that should be used to reduce our dependence on imported refined products disappear into the abyss of corruption and mismanagement.

“The government must, without delay, probe the expenditures committed to the Port Harcourt, Warri, and Kaduna refineries. These refineries are essential to Nigeria’s self-sufficiency in refining petroleum products.

“If these facilities are functioning optimally, there will be no need for blending plants or monopolistic control of refining operations in the country. We reject any attempts by individuals or organizations to monopolize refining operations in Nigeria.

“As a nation, we must diversify our refining capacities by licensing and encouraging the establishment of modular refineries across the country. These smaller, flexible units are better suited to our current needs and can help reduce the cost of fuel for Nigerians.”

Agabi added that Nigerians have the right to know the specifics of any deals made with international partners, the financial implications of these deals, and the potential risks involved. We will not accept a situation where our natural resources are used as collateral for opaque deals that do not benefit the general populace.

“The CCN urges the government to introduce reforms to make the oil and gas sector more competitive and transparent and calls for the licensing of modular refineries and a robust regulatory framework to ensure fair competition.

“We reiterate our call for the licensing of modular refineries and the rejection of any monopoly in Nigeria’s refining industry. We believe that by diversifying refining operations, creating jobs, and reducing the cost of fuel, we can ensure that Nigeria’s oil and gas resources truly serve the people, not a select few.”